Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Buys 650,000 Shares

Key Points

• Alkami Technology's Director, Atlantic Genpar (Bermu General), purchased 650,000 shares at an average price of $20.70 per share, totaling over $13 million, increasing their stake in the company by 6.11%.
• The company's stock recently traded up 3.9% to $22.59, with a market cap of $2.35 billion and a price-to-earnings ratio of -59.45.
• Recent analyst reports indicate a consensus price target of $39.25 with ratings including two holds and six buy recommendations, reflecting a moderate buy sentiment in the market.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic Genpar (Bermu General acquired 650,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $20.70 per share, for a total transaction of $13,455,000.00. Following the completion of the acquisition, the director owned 11,287,274 shares in the company, valued at $233,646,571.80. This represents a 6.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Wednesday, August 13th, Atlantic Genpar (Bermu General acquired 229,391 shares of Alkami Technology stock. The shares were purchased at an average cost of $22.44 per share, for a total transaction of $5,147,534.04.
• On Tuesday, August 12th, Atlantic Genpar (Bermu General acquired 516,771 shares of Alkami Technology stock. The shares were purchased at an average cost of $21.46 per share, for a total transaction of $11,089,905.66.

Alkami Technology Stock Up 3.9%

Shares of NASDAQ ALKT traded up $0.85 during mid-day trading on Wednesday, hitting $22.59. 2,574,127 shares of the stock traded hands, compared to its average volume of 1,609,439. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology, Inc. has a 52 week low of $19.94 and a 52 week high of $42.29. The company has a market cap of $2.35 billion, a price-to-earnings ratio of -59.45 and a beta of 0.57. The stock has a fifty day moving average price of $27.33 and a 200-day moving average price of $28.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALKT. Bosun Asset Management LLC grew its position in shares of Alkami Technology by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock worth $849,000 after purchasing an additional 313 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Alkami Technology by 27.6% during the 2nd quarter. Blue Trust Inc. now owns 1,852 shares of the company's stock worth $56,000 after acquiring an additional 401 shares during the last quarter. Perkins Coie Trust Co increased its holdings in Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock worth $34,000 after purchasing an additional 500 shares during the period. Covestor Ltd increased its holdings in Alkami Technology by 18.8% during the 1st quarter. Covestor Ltd now owns 3,252 shares of the company's stock worth $85,000 after purchasing an additional 514 shares during the period. Finally, Amundi increased its holdings in shares of Alkami Technology by 1.9% in the 1st quarter. Amundi now owns 29,040 shares of the company's stock valued at $731,000 after acquiring an additional 548 shares during the period. 54.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC decreased their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective on the stock. JMP Securities reissued a "market outperform" rating and set a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Finally, Lake Street Capital decreased their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.

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